RDE, Inc. (NASDAQ:RSTN) Enters Sales Agreement for At-the-Market Issuance

On October 25, 2024, RDE, Inc. (“RDE” or the “Company”) entered into an At-the-Market Issuance Sales Agreement with Ascendiant Capital Markets, LLC, as the sales agent, to sell shares of its common stock in an “at the market offering” as defined in Rule 415 under the Securities Act of 1933. The agreement allows for the sale of shares with an aggregate offering price of up to $30,000,000.

The Company filed a prospectus supplement with the Securities and Exchange Commission on October 25, 2024, pertaining to the offer and sale of up to $30 million of its shares in the ATM Offering. These shares will be sold under the Company’s effective shelf registration statement on Form S-3 and an accompanying base prospectus filed with the SEC on September 25, 2024.

It is important to note that this current report should not be misconstrued as an offer to sell or a solicitation to buy the shares nor should it be seen as an invitation for such actions where it would be deemed unlawful prior to registration or qualification under the securities laws of the applicable state.

Under the terms of the Sales Agreement, the Agent will use its commercially reasonable efforts to sell the shares following the Company’s instructions, within the bounds of normal trading practices and regulations. The Company retains the authority to set parameters for the sales, determining factors like the number of shares to be sold, timing, limitations on daily sales, and minimum price thresholds.

Both the Company and the Agent hold the right to terminate the Sales Agreement at any time at their discretion, subject to terms and conditions outlined in the agreement. Further details regarding the agreement can be found in the 8-K filing, including a legal opinion from CM Law PLLC regarding the legality of the issuance and sale of the shares.

As an emerging growth company, RDE, Inc. opted not to use the extended transition period for complying with any new or revised financial accounting standards. The Company’s President and CEO, Ketan Thakker, signed the report on its behalf on October 25, 2024.

Included in the filing are various exhibits, such as an opinion of CM Law PLLC, the At-The-Market Issuance Sales Agreement with Ascendiant Capital Markets, LLC, and other pertinent documentation related to the transaction. Investors and stakeholders are advised to refer to the full details of the Sales Agreement for a comprehensive understanding of the terms and conditions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RDE’s 8K filing here.

About RDE

RDE, Inc owns and operates a restaurant deal space in the United States. The company operates Restaurant.com that connects digital consumers, businesses, and communities with dining and merchant deal options at approximately 182,500 restaurants and retailers to approximately 7.8 million customers. It sells discount certificates for restaurants, as well as complementary entertainment and travel offerings, and consumer products on behalf of third-party merchants.